Press Release
Vancouver, British Columbia, November 15, 2024 — Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to report initial assay results from the 2024 exploration program at the Company’s Sun Dog Uranium Project (“Sun Dog”) located near Uranium City in northwestern Saskatchewan (Figure 1). Detailed mapping and prospecting across multiple target areas was completed ahead of the 2024 summer drill program, returning outcrop grab samples containing anomalous uranium up to 13.0% U3O8. The Project is currently under an earn-in agreement with Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) (“Aero”), who have committed to Year 2 of the three-year earn-in option agreement (the “Option”) that was executed on October 20, 2023. Aero will commit a minimum of $2.0M in Year 2 exploration expenditures on the Project starting on October 20, 2024. Exploration programs are managed and operated by Standard Uranium.
Highlights:
Figure 1. Overview of the Sun Dog Project highlighting drill target areas, high-grade uranium occurrences, and EM-conductors.
Sun Dog Project – 2024 Prospecting
The Sun Dog Project covers an area of 19,603 hectares in nine mining claims, located 15 km SW of Uranium City on the northern margin of the Athabasca Basin. Recent prospecting and mapping at the Wishbone, McNie, and Spring-Dome target areas has outlined multiple outcrops of favourable uranium host-rocks, including graphitic pelite, which is commonly radioactive over >200 m of collective strike length. Structural measurements and radioactivity mapping has further refined drill targets in these areas for ongoing exploration.
Drill targets are prioritized based on geophysical signature, geological/structural setting, proximity to known uranium occurrences, and the Company’s recent prospecting and mapping campaign. Occurrences of strong to intense radioactivity in outcropping basement rocks were identified at surface while prospecting at the Wishbone and Spring-Dome target areas returned anomalous uranium and pathfinder elements and are summarized in Table 1.
Table 1. 2024 prospecting: anomalous uranium and pathfinder element geochemistry
Figure 2. Detail map of the Wishbone target area highlighting 2024 drill holes and moderate to highly anomalous U3O8 assays from 2024 prospecting.
Figure 3. Detail map of the Spring-Dome target area highlighting moderate to highly anomalous U3O8 assays from historical (grey callouts) and recent 2024 prospecting (white callouts).
Figure 4. Detail map of the McNie target area highlighting untested VTEM conductors, faults, surface radioactivity, and highly anomalous U3O8 assays from 2024 prospecting.
Samples collected for analysis were sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan for preparation, processing, and ICP-MS multi-element analysis using total and partial digestion, gold by fire assay, and boron by fusion. Sandstone samples were tested using the ICP-MS1 uranium multi-element exploration package plus boron. Basement samples were tested with ICP-MS2 uranium multi-element exploration package plus boron. All sandstone samples, and basement samples marked as radioactive upon arrival to the lab were also analyzed using the U3O8 assay (reported in wt %). Basement rock split interval samples range from 0.1 to 0.5 m and sandstone composite samples are comprised of multiple equal sized full core “pucks” spaced over the sample interval. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats were inserted into the sample stream at regular intervals in accordance with Standard Uranium’s quality assurance/quality control (QA/QC) protocols. All samples passed internal QA/QC protocols and the results presented in this release are deemed complete, reliable, and repeatable.
Samples containing clay alteration were sent to Rekasa Rocks Inc. in Saskatoon, Saskatchewan to be analyzed by Short Wavelength Infrared Reflectance (“SWIR”) via a Portable Infrared Mineral Analyzer (“PIMA”) to verify clay species.
Historical data disclosed in this news release relating to sampling results on the Sun Dog Project are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company’s future exploration work may or may not include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of the Project.
QP Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
** The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous” and greater than 65,535 cps as “off-scale”.
***Natural gamma radiation in outcrop reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and a downhole Reflex EZ-Gamma probe. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 233,455 acres (94,476 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully executed three joint venture earn-in partnerships on their Sun Dog, Canary, and Atlantic projects totaling over $23.8M in work commitments over the next three years from 2024-2027, all of which will be managed by Standard’s experienced exploration team.
Standard Uranium’s Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, comprises nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by drilling despite its location proximal to uranium discoveries in the area.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eastern Athabasca projects comprise over 42,384 hectares of prospective land holdings. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
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